This prize, established in 1997, is made to the author of a paper published by the American Risk and Insurance Association (ARIA) that provides the most valuable contribution to casualty actuarial science.
Papers eligible for the prize include articles, workshop articles, and invited papers published in the Journal of Risk and Insurance during the preceding year. Papers published in new ARIA journals may also be eligible for this award. If no paper is considered eligible in a given year, the award shall not be made.
Papers will be judged by a specially appointed committee of the Society, whose decision will be final.
The presentation of the award will be made annually at the August ARIA Meeting. The author of the prize winning paper will be invited to present the paper at a CAS meeting.
The amount of the ARIA Prize is currently $1,000.
Recipients of the ARIA Prize
2021
Alexander Barinova, Steven W. Pottier, Jianren Xu
Estimating the Cost of Equity Capital for Insurance Firms with Multi-period Asset Pricing Models
2019
No Award
2018
Peng Shi
“A Multivariate Analysis of Intercompany Loss Triangles”
2017
Alexander Braun
“Pricing in the Primary Market for Cat Bonds: New Empirical Evidence”
2016
Jeffrey Pai, Milton Boyd, and Lysa Porth
“Insurance Premium Calculation Using Credibility Analysis: An Example from Livestock Mortality Insurance”
2015
Edward W. Frees, Glenn G. Meyers, and A. David Cummings
“Insurance Ratemaking and a Gini Index”
2014
Wayne Zhang and Vanja Dukic
“Predicting Multivariate Insurance Loss Payments Under the Bayesian Copula Framework”
2013
M. Martin Boyer, Eric Jacquier, and Simon Van Norden
“Are Underwriting Cycles Real and Forecastable?”
2012
Richard A. Derrig and Sharon Tennyson
“The Impact of Rate Regulation on Claims: Evidence From Massachusetts Automobile Insurance”
2011
George Zanjani
“An Economic Approach to Capital Allocation”
2010
J. David Cummins and Phillipe Trainar
“Securitization, Insurance, and Reinsurance”
2009
Pierre Picard
"Natural Disaster Insurance and the Equity-Efficiency Trade-off"
2008
Patrick L. Brockett and Linda L. Golden
“Biological and Psychobehavioral Correlates of Risk Taking, Credit Scores, and Automobile Insurance Losses: Toward an Explication of Why Credit Scoring Works”
2007
Michael Sherris
“Solvency, Capital Allocation and Fair Rate of Return in Insurance”
2006
David Cummins and Richard D. Phillips
"Estimating the Cost of Equity Capital for Property-Liability Insurers"
2005
Stephen P. D'Arcy and Richard W. Gorvett,
"The Use of Dynamic Financial Analysis to Determine Whether an Optimal Growth Rate Exists for a Property-Liability Insurer"
2004
Natacha Brouhns, Montserrat Guillén, Michel Denuit, and Jean Pinquet,
"Bonus-Malus Scales in Segmented Tariffs With Stochastic Migration Between Segments "
2003
Patrick L. Brockett, Richard A. Derrig, Linda L. Golden, Arnold Levine, and Mark Alpert,
"Fraud Classification Using Principal Component Analysis of RIDITs"
2002
Stewart C. Myers and James A. Read Jr.,
"Capital Allocation for Insurance Companies"
2001
Richard D. MacMinn, Patrick L. Brockett, Hung-Gay Fung, Gene C. Lai, and Robert C. Witt,
"Great (and Not So Great) Expectations: An Endogenous Economic Explication of Insurance Cycles and Liability Crises"
2000
J. David Cummins, Martin F. Grace, and Richard D. Phillips,
"Regulatory Solvency Prediction in Property-Liability Insurance: Risk-Based Capital, Audit Ratios, and Cash Flow Simulation"
1999
Richard D. Philips, J. David Cummins, and Franklyn Allen,
"Financial Pricing of Insurance in the Multiple-Line Insurance Company"
1998
Joan Lamm-Tennant and Mary Weiss,
"International Insurance Cycles: Rational Expectations/Institutional Intervention"
1997
Daniel Zajdenweber,
"Extreme Values in Business Interruption Insurance"
